Netanya, Israel, August 28, 2017 - RADA Electronic Industries Ltd. (NASDAQ: RADA) today announced that DBSI, the Company’s principal shareholder, has converted a $3.175 million convertible loan granted to the Company (RADA) in June 2016, into ordinary shares of RADA. The conversion was made at $2.40 per ordinary share, in accordance with the loan terms.

This conversion is expected to save RADA approximately $250,000 in annual financial expenses.

 

About RADA

RADA Electronic Industries Ltd. is an Israel-based defense electronics contractor. The Company specializes in the development, production, and sales of Tactical Land Radars for Force and Border Protection and Avionics Systems (including Inertial Navigation Systems) for fighter aircraft and UAVs.

   

 Company Contact:  Investor Relations Contact:
 Shiri Lazarovich | CFO  Ehud Helft / Gavriel Frohwein
 RADA Electronic Industries LTD.   GK Investor & Public Relations
 Tel: +972-9-892-1111  Tel: +1 646 688 3559
 This email address is being protected from spambots. You need JavaScript enabled to view it.  This email address is being protected from spambots. You need JavaScript enabled to view it.

 


Cautionary Statement Regarding Forward-Looking Statements Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.